Insurance company CGU officially launched their entry in the BT Global Challenge round the world race in London yesterday. The company’s previous incarnational, Commercial Union, sponsored boats in the two the previous races.

The new contender’s name is on one of the 67ft steel boats which took part in the last two races. Until the new Rob Humphreys-designed boats are all built and launched together next May, this is the boat that will be used for promotion. Part of that schedule includes a tour of the UK, calling at ports where CGU has offices.

Company incentives and involvement are seen as a key element of the race for CGU. As on previous races, at least one company employee will sail on each leg.

The new boats are currently being built at DML in Plymouth and two in China. The race starts from Southampton in September 2000 and visits Boston, Rio de Janeiro, Wellington (New Zealand), Sydney, Cape Town and an as yet unspecified port in France before returning to Southampton in 2001.